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Wall Street’s three major indexes soared on Tuesday as improving economic data and the prospect of larger stimulus increased hopes of fast economic recuperation. More so, the Nasdaq reached another record high backed by a jump in technology shares.
The Dow Jones Industrial Average recorded a 0.5% jump while the S&P 500 closed its session with a 0.43% increase. The Nasdaq soared 0.74%, adding a total of 74.89 points to 10,131.37.
All indexes closed their sessions below their daily highs as the Nasdaq registered its fifth record high this month. This was mainly from a well-ended performance of technology-related shares led by Apple Inc, Amazon.com, and Microsoft.
Contraction in the U.S. manufacturing and services sectors was monitored at a much gradual pace in June. This could be attributed to businesses resuming operations after lockdowns were lifted. More so, new home sales advanced by 16.6% in May, surpassing its initial prediction of a 2.9% increase.
The Dollar fell to two-year lows on Friday, heading to its lowest decline in 10 years as concerns mounted over the economic recovery of the U.S. amid a second resurgence of the COVID-19 pandemic. The Dollar index plunged to 92.777, on course ...
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
Oil prices fell on Thursday as the rising global coronavirus cases weighed on fuel demand recovery just as OPEC+ producers are set to increase supply. The Brent contract for October slid 0.05%, or 2 cents, at $44.07 per barrel, while the September ...
The outlook for India’s struggling economy has darkened further on weak business activities and surging virus cases. This will likely prompt the Reserve Bank of India to lower interest rates again, a Reuters survey showed. According ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...
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